On Friday after making low of 7840 spot Nifty strong bounce back and positive news by global front market will come back along with short covering and closed days high.
Nifty Future and Spot is a wide difference of 60 points show. On the other hand , Bank Nifty also made a low and finally closed at 15700 mark.
Now what to do on Monday Trading.
Market likely to open with up side gap with consider Nifty resistance 8040-8050 range and Bank Nifty 16000-16100 are a bigger challenge for bulls to cross these levels successfully. Unable to cross these level once again selling pressure likely in the market.
However, if crossover 8050 some move towards 8150 also possible but all bearish view will be negated only above if nIfty clsoed above 8200 mark with decent volume.
Banking stocks avoid along being a ahead of Monetary policy by RBI on Tuesday
On Friday after making low of 7840 spot Nifty strong bounce back and positive news by global front market will come back along with short covering and closed days high.
Nifty Future and Spot is a wide difference of 60 points show. On the other hand , Bank Nifty also made a low and finally closed at 15700 mark.
Now what to do on Monday Trading.
Market likely to open with up side gap with consider Nifty resistance 8040-8050 range and Bank Nifty 16000-16100 are a bigger challenge for bulls to cross these levels successfully. Unable to cross these level once again selling pressure likely in the market.
However, if crossover 8050 some move towards 8150 also possible but all bearish view will be negated only above if nIfty clsoed above 8200 mark with decent volume.
Banking stocks avoid along being a ahead of Monetary policy by RBI on Tuesday
On a stock specify
some stocks looks on Monday Trading likely
LIC, Voltas, Sun Pharma, SBI, Ranbaxy, Crompton but higher level selling pressure continue in the market.
In case if you have any you may book profit 8050 level.and above hold continue please recover your all short position and wait for major up side then again create a short position.
As market already broken major support level so short term down side.
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TODAY’S COMMODITY MARKET | 29 SEP 2014
TODAY’S SHARE MARKET | 29 SEP 2014.
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